Tax Year 2025

Tax Year 2025. The direct tax code (dtc) 2025 represents a landmark reform aimed at replacing the income tax act of 1961, ushering in a simpler, more efficient, and transparent taxation. The dtc 2025 eliminates the concepts of assessment year and previous year.

An individual has to choose between new and old tax regime to calculate their income tax liability, subject. In 2025, the income limits for all tax brackets and all filers will be adjusted for inflation and will be as follows (table 1).